Whales Accumulate as Polygon Eyes $1 Milestone
The post Whales Accumulate as Polygon Eyes $1 Milestone appeared on BitcoinEthereumNews.com. Recent data shows that whales accumulate MATIC aggressively amidst the ongoing broad market correction that has seen the asset trading below $0.7. Interestingly, an analyst has observed the formation of a bullish trend that could see MATIC surging to $0.95 and $1.29. Polygon’s native token MATIC takes a marginal turn in a 1% positive run to hit $0.66 weeks after consistently breaking away from its targeted price. However, the price of the asset is still 34% down from year-to-date and 31% down in the last 30 days. Taking advantage of this correction, whales have embarked on a buying spree, signaling a bullish outlook on the layer-2 blockchain. According to Lookonchain data, an unidentified whale has withdrawn 1.9 million MATIC tokens ($1.41 million) from the Binance exchange to a decentralized on-chain wallet. The data further discloses that the whale made multiple withdrawals in AVAX ($1.86 million), FET ($1.45 million), GRT ($1.44 million), OP ($1.29), and RNDR ($1.26 million). Subjecting MATIC to technical analysis was crypto analyst Scalping, who noticed the formation of a broadening wedge pattern in its daily chart. Speaking to his X followers, Scalping predicted that the bullish setup would be triggered if the asset could hold its position above $0.63 by the end of the day. According to him, MATIC, upon meeting the above condition could surge to $0.95, then proceed to hit its second target at $1.29. Interestingly, its previous run that saw MATIC trading above $1 from February 21, 2021, remains fresh in the minds of investors. The asset suddenly plunged below this zone after the April Fool’s Day and has since struggled to bounce back. Polygon (MATIC) Booming Network Activities Could Trigger the Bull Run Research into its latest network activities discloses that MATIC has enough technical reasons to move in a positive trajectory as…
The post Whales Accumulate as Polygon Eyes $1 Milestone appeared on BitcoinEthereumNews.com.
Recent data shows that whales accumulate MATIC aggressively amidst the ongoing broad market correction that has seen the asset trading below $0.7. Interestingly, an analyst has observed the formation of a bullish trend that could see MATIC surging to $0.95 and $1.29. Polygon’s native token MATIC takes a marginal turn in a 1% positive run to hit $0.66 weeks after consistently breaking away from its targeted price. However, the price of the asset is still 34% down from year-to-date and 31% down in the last 30 days. Taking advantage of this correction, whales have embarked on a buying spree, signaling a bullish outlook on the layer-2 blockchain. According to Lookonchain data, an unidentified whale has withdrawn 1.9 million MATIC tokens ($1.41 million) from the Binance exchange to a decentralized on-chain wallet. The data further discloses that the whale made multiple withdrawals in AVAX ($1.86 million), FET ($1.45 million), GRT ($1.44 million), OP ($1.29), and RNDR ($1.26 million). Subjecting MATIC to technical analysis was crypto analyst Scalping, who noticed the formation of a broadening wedge pattern in its daily chart. Speaking to his X followers, Scalping predicted that the bullish setup would be triggered if the asset could hold its position above $0.63 by the end of the day. According to him, MATIC, upon meeting the above condition could surge to $0.95, then proceed to hit its second target at $1.29. Interestingly, its previous run that saw MATIC trading above $1 from February 21, 2021, remains fresh in the minds of investors. The asset suddenly plunged below this zone after the April Fool’s Day and has since struggled to bounce back. Polygon (MATIC) Booming Network Activities Could Trigger the Bull Run Research into its latest network activities discloses that MATIC has enough technical reasons to move in a positive trajectory as…
